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Forum Post: Lets Clear Up Some Stuff about a Debt Ceiling

Posted 1 year ago on Sept. 19, 2012, 9:52 p.m. EST by hchc (3297) from Tampa, FL
This content is user submitted and not an official statement

First off, even if we only had a military and infrastructure to pay for, the debt would have to go up every year due to an increasing population.

The reason that they put a ceiling limit on it, is so that it draws attention to what is going on, in regards to finances. Of which, ours is compeletly out of control.

The country is insolvent, as it stands now. Sure it can print whatever it wants (like that shithead Greenspan said) but there is no value in owning something that someone is actively destroying.

Defualt. This was all over the place, people screaming we were going to defualt on our debt. Do people even realize how much of the budget is used to pay debt. I think its around 3%.

Congress would have to actively choose bombs over paying our debt. I would love to see that. It would be quite interesting.

And what did we get in the end? We got the biggest credit card in the history of the planet. Goldman Sachs cashed in like they have never cashed in before.

A word on ratings agencies- they are pawns. We have since been hit again, just like every other western country. The debt ceiling debate had nothing to do with it. One ratings agency drops us a slight bit, the press use it for partisan gains, and the people fall along their lines in the sand.

The last thing Goldman Sachs, Jp MOrgan, Morgan STanley, etc want is for us as a nation to slow down and start taking a hard look at our country's finances and whats going where.

They want mindless consuming idiots that will react EXACTLY how the TV tells them to.

Another ratings drop is coming. And another. And another. Get used to it.

24 Comments

24 Comments


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[-] 3 points by ZenDog (20606) from South Burlington, VT 1 year ago

Republicans Pledge New Standoff on Debt Limit By JONATHAN WEISMAN Published: May 15, 2012

Treasury Secretary Timothy F. Geithner, speaking at the same meeting sponsored by the financier Peter G. Peterson, said the government could bump into its borrowing limit before the end of the year, but, he said, the Treasury has enough “tools” to keep the government afloat into early next year. That should push a debt-ceiling showdown well past the November election.

.

Unless Congress came to a deal quietly sometime this month, you two clowns [clown a; clown b] don't know what the fuck you are talking about.

maybe you can buy a clue . . . but I doubt it - I doubt you can find one.

[-] -1 points by hchc (3297) from Tampa, FL 1 year ago

So by that logic then there was no reason that POTUS signed NDAA on the end deadline, because the treasury has enough tools to get along for a while.

The whole thing is a mess, there is NO leadership anywhere. Just look at em. Boehner, McConnnel, Reid and Pelosi. And Obama. No leaders. Just pawns.

[-] 3 points by ZenDog (20606) from South Burlington, VT 1 year ago

two completely separate issues

ndaa was/is a budget spending bill

debt ceiling refers to how much the treasury is allowed to borrow

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

They dont pass budgets anymore.

[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

You're not aware that Congress did come to a deal quietly this month?

I even mentioned it on this page in a comment that you apparently didn't read because you were too busy typing a cute insult.

Did you see what you did there? You were so preoccupied with your bigotry that you forgot to concern yourself with being correct.

[-] 2 points by ZenDog (20606) from South Burlington, VT 1 year ago

U.S. debt $417 billion below the debt ceiling By Jeanne Sahadi @CNNMoney September 5, 2012: 2:03 PM ET

I saw your comment earlier - and it is possible I missed something in the news in the past three weeks, so I looked.

I've found nada. NADA I said.

Did a deal get passed? One would think it would hit the news if it had, and be findable in a google search of it. As the article link above indicates, a deal had not been reached as of Sept 5 of this year.

.

Bottom line: Congress will likely need to raise the ceiling in early 2013 or Treasury will risk defaulting on the country's legal obligations by failing to pay all of its bills in full and on time.

Related: Debt ceiling in play again

If the past is any guide, lawmakers will wait until the last possible moment to do so.

The issue has long been used as a political bludgeon by the minority party to paint those in the majority as irresponsible spendthrifts. Last year's histrionics were the most dramatic example.

.

Since I can find nothing using various search terms, and since a quiet passage of a debt ceiling deal runs completely contrary to the recent history of this subject in the hands of Congress, and that fact is clearly reflected in the article above - I am forced to the following conclusion:

YOu

  • are either a FOOL

  • OR A liar

which is a matter of complete indifference to me. The results are the same - completely inaccurate information posted on the forum, which is productive if only for the purpose of identification of bullshit

[-] 0 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

Wow that actually was not quite the response that I was expecting.

This joint resolution passed on September 13, 2012: http://thomas.loc.gov/cgi-bin/bdquery/D?d112:1:./temp/~bd2gUS:@@@L&summ2=m&|/home/LegislativeData.php?n=BSS;c=112|

You called me a "fool" or a "liar" because your own Google Fu was too weak to find that?

[-] 1 points by ZenDog (20606) from South Burlington, VT 1 year ago

Ah, well, that settles it then.

you are no fool at all.

  • you're a fucking liar

That's an appropriations bill, not a debt ceiling agreement. Since you could find it at all I am confident you know the difference.

piss off.

[-] 2 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

That was a six month extension to the current year's spending, which pushes the budget battle into next year. After the election.

This week, the Senate is expected to pass the same measure. Quietly. I'll point it out for you when it happens.

For you to still refuse to believe that it happened when I showed you the actual bill is just hilarious. Here, if you don't believe the web servers provided by Congress then maybe you'll trust a journalist:

The U.S. House of Representatives has approved a six-month stopgap government funding bill on a 329 to 91 vote, putting aside the partisan warfare of the past 18 months in bipartisan resolve to avoid a budget showdown ahead of the November election.

The Senate is expected to pass the same measure late next week, providing funding for agencies for the first six months of the fiscal year and avoiding any threat of a government shutdown when the year ends Sept. 30.

http://www.washingtonpost.com/blogs/2chambers/post/house-passes-stopgap-funding-bill-to-keep-government-open-until-after-election/2012/09/13/8d784e82-fdde-11e1-8adc-499661afe377_blog.html

[-] 3 points by ZenDog (20606) from South Burlington, VT 1 year ago

as I said - * you are no fool*

From your article:

.

Passage of the continuing resolution means funds will be available to keep the government running through March, after President Obama or Mitt Romney are sworn in as president in January.

But it does nothing to avert deep automatic spending cuts and dramatic tax increases now scheduled to go into effect Jan. 1, which the Congressional Budget Office has said could send the country back into recession.

On a party-line 223 to 196 vote, the House also passed a measure Thursday that would require Obama to produce a plan to avert military cuts, a symbolic gesture intended to show Republican resolve to avert Defense Department reductions.

The Senate has no plans to take up that measure, and Congress will take up real negotiations over how to avoid the so-called fiscal cliff after the election.

.

Did you get that?

Let me regurgitate:

.

This was no debt ceiling agreement - it was spending authorization.

  • you clever little LIAR you
[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This really is getting pretty funny.

[-] 2 points by ZenDog (20606) from South Burlington, VT 1 year ago

but of course you find this funny

What other position can you possibly adopt, having been caught red handed attempting to distort the facts and so blunt public outrage over repelican malfeasance and treason . . . .

Your own credibility is in shambles, and soon the entire party of lies will lie in complete disarray . . .

.

We have lost two precious decades as the ice caps retreat. Only now do they begin to curb the flow of wealth propping up their delusion.

The conservative ideologue and repelican psycophants are most clearly finished in America. I await their sudden and clamorous epiphany with eager anticipation.

.

[-] 1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This all started when I responded to your quote:

Unless Congress came to a deal quietly sometime this month, you two clowns [clown a; clown b] don't know what the fuck you are talking about.

I pointed out that Congress did indeed come to a deal quietly this month. Last week and this week, in fact. Everything that happened after that seems to be more about your uncontrollable urge to call me names.

[-] 2 points by ZenDog (20606) from South Burlington, VT 1 year ago

the title, and so one must presume, the topic of this thread is **Lets Clear Up Some Stuff about a Debt Ceiling -

you have not provided any clarity or insight into this debate - unless it be from the perspective on how disinformation is used to distort public opinion and so blunt outrage.

The Congressional measure you cite is no more than a budgetary authorization - and does nothing to address the automatic cuts that are slated to take effect as a result of the last budget bill.

Let me regurgitate:

.

This was no debt ceiling agreement - it was spending authorization.

  • you clever little LIAR you

Yes I will call you names - and take great pleasure in it . . .

[-] -1 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

This isn't a debate. This was me simply informing you about the budget deal that's quietly happening right now that you obviously were not aware of. You posted an article about how there was going to be another standoff this year that was written in May. I updated you to current events. What happened after that was not a "debate", it was just you calling me names and me providing citations to back what I told you.

[-] 2 points by ZenDog (20606) from South Burlington, VT 1 year ago

Of course this discussion is not a debate - the debate will take place in Congress, and that debate is in regard to the debt ceiling and the legislative issues that arise as a result of the Budget Control Act of 2011.

Let me regurgitate:

.

this is a spending authorization that has yet to pass the Senate - one that ensures the entire issue will be addressed again by March of next year - and most likely quite sooner . . .

too bad you didn't read the entirety of the link you posted.

[-] 0 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

I'll let you know when it (quietly) passes the Senate. Should be soon.

[-] 2 points by ZenDog (20606) from South Burlington, VT 1 year ago

that's fine - you needn't worry about notifying me when the issue comes up again between October and December - which it most certainly will - as repeliccans strategize how best to leverage the greatest share of the burden onto the middle class while leaving the Pentagon and the one percent unaffected by either tax increases or declining availability of public funds.

That's right - no alert will be needed.

It will be evident to all once that issue is raised.

[-] -2 points by jimmyCartersDogRambo (-28) 1 year ago

The member of Partisan Powers, zendog, shooz, DKAtoday, shadz66, and VQkag2, love to go around the forum insulting other users. That's just how they roll. Don't take it personally, they do it to everyone. Then they upvote each other to gain high scores which makes them feel like they are participating actively in OWS.

[-] 3 points by ZenDog (20606) from South Burlington, VT 1 year ago

one cannot negotiate in good faith with either liars or with thieves -

[-] 1 points by evileye (11) 1 year ago

Here's the quote of the century on the debt ceiling:

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America 's debt weakens us domestically and internationally. Leadership means that, "the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

~ Senator Barack H. Obama, March 2006

[-] 0 points by nobnot (529) from Kapaa, HI 1 year ago

The sky is falling. The sky is falling. The sky is falling.

[-] -2 points by TechJunkie (3029) from Miami Beach, FL 1 year ago

People in general seem to have not really noticed that this happened, but this year the debt ceiling was raised in the same kind of routine procedure that happened every year before 2011 when the Tea Party forced the issue, leading to the Budget Control Act of 2011. This year it was a total non issue, because even the Tea Party fiscal conservative extremists realize that it would be political suicide to play brinksmanship with the economy right before an election.

I wonder why there are no Occupy extremists on Capitol Hill to counter the Tea Party extremists? No, never mind, I do know why.

[-] -1 points by podman73 (-652) 1 year ago

Yes it was kind of under the radar, what the hell right it's not their money.